A Survey on the Difference of Corporate Governance of Companies Listed in the Two Securities Markets in Taiwan
Date Issued
2012
Date
2012
Author(s)
Cheng, Chun-Ting
Abstract
This research discusses the difference of the corporate governance of companies listed in the two securities markets in Taiwan.
Rather than choosing few structures of corporate governance, using questionnaire or on-site interview in the past, in this research, we refer to Taiwan Corporate Governance Association and OECD Principles of Corporate Governance, using multiple structures of corporate governance and public information to measure the score of corporate governance of companies listed in the two securities markets in Taiwan.
The results show that:
(1)Overall, the score of corporate governance of GTSM (GreTai Securities Market) Listed Companies is better.
(2)The better the score of corporate governance is, the better the operation performance is.
(3)Separation of control right and cash flow right will negatively affect the score of corporate governance, but indistinctively to that of TWSE (Taiwan Stock Exchange Corporation) Listed Companies.
(4)Pledged share of directors and supervisors is negatively related to the score of corporate governance.
Subjects
corporate governance
operation performance
public information
control right
cash flow right
Type
thesis
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